Some of the largest funds in the region are seeing a mixed bag of returns amidst what has been a highly challanging year for Asia-focused managers.
John Ho’s Janchor Capital, the Hong Kong-based shop with a long term fundamental-based investing approach, is having another strong year with a 1% gain in October, taking up year to date performance to 7%.
Hong Kong-based Azentus Capital’s multi-strategy fund is understood to be down 1.75% in October with -3% returns year to date. The fund is run by highly-regarded former head of Goldman Sachs’ Principal Strageies group, Morgan Sze.
Meanwhile, Davide Erro’s Turiya is going from stregnth to stregnth, delivering 5.5% year to date (end-October). Carl Huttenlocher’s Myriad, which has an Asia Pacific integrarted multi-strategy approach, is also understood to be doing relatively well, bringing home 2.95% returns by end-September with a 1% gain in September.
Nick Taylor’s Senrigan is having more of a difficult year, being down 13% by end October, according to investors, albeit with a positive gain in October itself.
Investors, in the meantime, profess to be looking for non-beta, pure alpha kind of strategies in Asia now. Given this, there has been a growing proliferation of new quantitative strategies in the region, including funds such as Alcova (see AsiaHedge November issue), MCP and Piquant (see other stories today).